Around EWS and ATA

By Chris Tully, CFP®, RICP®,, CIMA®, Managing Partner

Settling Into Mullica Hill

We've now been in our new office space in Mullica Hill for six months, and it's safe to say we feel right at home. The time has flown by, but we're fully settled and set up for the road ahead. If you haven't yet had the chance to stop by, we'd love for you to see the new space — we're proud of it and looking forward to welcoming you in.

Looking Ahead

We believe our industry is on the cusp of more change in the next two years than we've seen in the last twenty. Rather than looking backward, we're committed to staying focused on what's ahead and adapting our firm accordingly. Our ultimate goal remains the same: providing exceptional service to our clients and helping you prepare for an ever-changing future. Last year, we expanded into tax services through Aerie Tax & Advisory. Looking forward, we plan to continue vetting and adding areas of service so that all of your financial needs can be met in one place.More news to come.

New Faces on Our Team

Over the coming weeks, you may notice a few new faces around the office. We're committed to finding the best people for our company, upholding our Core Values, and providing exceptional customer service to our clients. As we continue to grow, building the right team remains one of our top priorities, and we're excited about the talent joining us.

Investing in Our Technology

We've also recently engaged a technology consultant who will be leading us through a

comprehensive six-month due diligence process. The goal is straightforward: to ensure we have the right technology in place, tailored specifically to how our firm operates, so we can continue to serve you efficiently and effectively for years to come. Building the right firm for the future means making thoughtful, deliberate decisions today — and that's exactly what this process is designed to do.

As always, we're grateful for the trust you place in us, and we'll keep you updated as these initiatives progress.

1st Half 2026 Market Commentary

The first half of 2026 delivered strong results for investors, even amid a backdrop that gave plenty of reasons for caution. The S&P 500 Index (large US companies) gained 10.14% through Friday, August 1st, and global equities, as measured by the MSCI ACWI All Cap Index, rose 11.46%. Markets often move ahead of headlines, and this first half was a reminder that investor sentiment and underlying company fundamentals don't always track day-to-day news in a straight line.

The geopolitical situation involving Iran remains unresolved. The Strait of Hormuz — a critical corridor for global oil shipments — remains only partially open. Despite this, markets have largely looked past the conflict, with equities up significantly since late March. That resilience is real, but it doesn't mean the risk has disappeared. The eventual impact on global energy prices and economic growth remains genuinely uncertain, and we'd rather be honest about that uncertainty than pretend to know how it resolves.

On the interest rate front, the picture is more mixed. The 10-year U.S. Treasury yield has climbed this year to around 4.7%. Part of this reflects a broader debate about the path of monetary policy under new Federal Reserve Chair Kevin Warsh, who held rates steady at last week's meeting.

Some market participants worry the Fed may be falling behind the curve — meaning inflation or growth pressures could build faster than policy adjusts to meet them. We don't think this warrants alarm, but it's worth watching. Higher long-term rates affect everything from mortgage costs to bond returns, and they're a key reason we continue to emphasize diversification across maturities in fixed income allocations.

Each January and July, we meet with one of the main analysts at Ned Davis Research (NDR), a firm we rely on for unbiased, expert insight into the markets. These conversations help inform how we think about positioning portfolios — including where it may make sense to tilt allocations — so that we're making thoughtful, research-driven decisions on your behalf, rather than reacting to headlines. Coming out of our most recent meeting, NDR remained optimistic on stocks. They continuously update their guidance and aren’t afraid to shift their views across stocks, bonds, and various sub-categories as conditions change; so we're watching those updates closely and will ad-

just our approach accordingly.

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To see more articles from our Summer 2026 newsletter, please click here.